US economic growth “showed widespread signs of deceleration” in the six weeks to the end of August, according to the Federal Reserve’s Beige Book.
The book supports recent economic data showing that the recovery is losing momentum.
It did, however, report a slight increase in consumer spending.
The influential Beige Book, compiled eight times a year and used to help set interest rates, is based on… more...
US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department has said.
This compares with an annual rate of 3.7% in the previous quarter.
The second quarter figure is a first estimate, and could be revised either up or down in the coming months.
There are growing fears about the strength of the US economic recovery… more...
Australia’s economy grew for a fifth straight quarter in the first three months of the year, but at a slower rate than the previous quarter.
Official figures show GDP in the three months to March was 0.5% higher than in the same period last year.
Growth for the last three months of 2009 was also revised up to 1.1%, giving Australia a growth figure of 2.7%… more...